Pune, Aug. 02, 2023 (GLOBE NEWSWIRE) -- “The Commerce Cloud Market, which was valued at USD 16.40 billion in 2022, is projected to reach USD 94.68 billion by 2030. This growth is anticipated to occur from 2020 to 2030 at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period of 2023-2030, as per the SNS Insider report.”
Market Overview
Commerce Cloud is a cutting-edge e-commerce platform that empowers businesses to thrive in the digital landscape. With its comprehensive set of features, scalability, and integration capabilities, it serves as a catalyst for businesses seeking to establish a strong online presence, drive sales, and deliver exceptional customer experiences.
Market Analysis
The commerce cloud market is witnessing exponential growth due to its ability to address the evolving needs of modern businesses and consumers. The shift towards omnichannel experiences, the rising adoption of cloud technology, data-driven decision-making, the growth of mobile commerce, and easy integration of third-party applications are significant drivers fuelling the market's expansion.
Key Players Listed in this Report are:
The Major players are Salesforce Commerce Cloud, Adobe Commerce Cloud, Shopify Plus, SAP Commerce Cloud, Oracle Commerce Cloud, IBM Watson Commerce, Big Commerce, Salesforce B2B Commerce, Woo Commerce, Salesforce B2C Commerce, VTEX and Other Players
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Impact of Recession on Commerce Cloud Market Growth
Recessions undoubtedly impact the commerce cloud market, influencing consumer behavior, demand for cost-efficient solutions, digital transformation efforts, market consolidation, and the focus on customer experience. Businesses that can weather the storm are those that adapt to these challenges by investing in robust commerce cloud platforms that cater to evolving market needs. As the economy recovers, the market will continue to evolve, and companies that embrace the changing landscape will be well-positioned for success in the post-recession era.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had a significant impact on the commerce cloud market, causing supply chain disruptions, increased cybersecurity concerns, regional market volatility, and opportunities in emerging markets. As the conflict continues to unfold, businesses in the commerce cloud sector must adapt to the evolving landscape by reevaluating their strategies and prioritizing security and resilience.
Commerce Cloud Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 16.40 Bn |
| Market Size by 2030 | US$ 94.68 Bn |
| CAGR | CAGR of 24.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Commerce Cloud Market: Key Segmentation | • By Component (Platforms and Services) • By Organization Size (Large Enterprise, Small and medium size enterprise) • By Application (Electronics, Furniture, Bookstores, Grocery and Pharmaceutical, Automotive, and Fashion and Apparel) |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Impact of COVID-19 Pandemic
the COVID-19 pandemic significantly impacted the commerce cloud market, driving rapid digital transformation and reshaping the e-commerce landscape. Businesses that embraced cloud-based solutions witnessed increased resilience and agility during these challenging times, positioning them for continued success in the post-pandemic era. As the world gradually recovers from the pandemic, the lessons learned from this experience are likely to shape the future of the market and the broader e-commerce industry.
Key Regional Developments
The regional dynamics of the commerce cloud market present a diverse landscape with unique opportunities and challenges. While North America leads in innovation and consumer-centricity, Europe emphasizes data privacy and omnichannel experiences. Asia-Pacific offers vast potential with its rapidly growing digital consumer base, Latin America presents untapped opportunities for expansion, and the Middle East and Africa are accelerating their digitization efforts.
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Key Takeaway from Commerce Cloud Market Study
- As the market gains momentum, the dominance of the Platforms and Electronics segments is undeniable. By offering seamless integration, scalability, personalization, and cutting-edge technological features, these segments are reshaping the way businesses approach e-commerce.
- In this era of digital transformation, the market's continued expansion will be fueled by the innovation and forward-thinking initiatives of these two segments. By harnessing the power of Platforms and Electronics, businesses can navigate the rapidly evolving commerce landscape and thrive in the age of digital commerce.
Recent Developments Related to Commerce Cloud Market
- Salesforce has rolled out a series of updates to its Commerce Cloud platform, designed to enhance digital commerce capabilities for businesses. These updates aim to provide a more seamless and engaging shopping experience for customers and enable merchants to drive growth and revenue.
- Coveo, a leading provider of AI-powered search and relevance solutions, announced its integration with SAP Commerce Cloud, bringing advanced artificial intelligence capabilities to enhance the search experience for online retailers and their customers.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Commerce Cloud Market Segmentation, By Components
9. Commerce Cloud Market Segmentation, By Application
10. Commerce Cloud Market Segmentation, By Organization
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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